By Liviu Oltean, Associate Editor
Hot on the heels of acquiring a warehouse/showroom in downtown Phoenix for $3 million, Ironline Partners has revealed plans for an adaptive reuse project. The local investment, development and management company plans to transform the property at 841 E. Jefferson St. into an office building.
Ironline plans to add an 11,500-square-foot mezzanine, which will increase the building’s square footage to 60,000 square feet. Also on the agenda are large banks of windows and rolling overhead glass doors to ensure maximum exposure to natural light. Twenty-five-foot high wood-truss ceilings and open-floor plans are also key elements in the makeover.
“Downtown Phoenix has seen significant revitalization over the last several years and adaptive reuse projects like the one planned at 841 Jefferson have played a major part in that revitalization,” noted Bob Karber, an Ironline principal, in a statement.
Kevin Calihan of CBRE Group Inc.’s Phoenix office acted on behalf of Ironline; CBRE will also handle marketing and leasing for the property. Cresa’s Rod Beach and Keyser Commercial’s Kevin Lange represented the seller.
Image Courtesy of Keyser and Cresa